Our article in the Dec ‘08 edition of ESOMAR’s Research World. Grab your copy here.
Brand health monitoring is an important tool, particularly during tough economic times when managing RoI becomes critical for CMOs. But what are some of the tools, and are they fit for purpose?
The Millward Brown Approach
Don’t say we didn’t try.
In the ceaseless search for simplicity, we ask Eileen Campbell, CEO of Millward Brown for a single measure to encapsulate brand health: “We aren’t really advocates of single number measures – the same way you wouldn’t monitor your personal health with a single number.” Sounds reasonable.
Instead, the philosophy behind BrandZ, their brand health tool/framework, is to measure the strength of the consumer bond, says global brand director Peter Walshe: “Consumers have relationships with brands, and the intent is to strengthen those relationships.”
Strength is derived from a couple of (exotic-sounding) metrics: ‘bonding’ and ‘voltage’.
Bonding refers to one of five levels that indicate the strength of the consumer bond. It is based on factors such as: spontaneous awareness, knowledge, relevance, performance, and perceived competitive advantage. For example, the lowest level (weakest bond) typifies a consumer who is simply familiar with a brand and nothing else. The highest level (strongest bond) reflects a consumer who regards the brand as relevant to them and way ahead of the competition.
And voltage? That, says Walshe, reflects how effectively consumers move up the bonding levels. Strong brands tend to have high conversation ratios between the levels.
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